Selling price of an article is ₹5600, loss incurred is $6 \frac{2}{3}$%. Find the cost price.
Given :
$SP = ₹5600$
$Loss = 6 \frac{2}{3} = \frac{20}{3}$%.
To find :
We have to find the cost price.
Solution :
$CP = \frac{100}{(100-\frac{20}{3})} \times 5600$
$ = 100\times \frac{3}{(300-20)} \times 5600$
$ = \frac{300}{280} \times 5600$
$= 300 \times 20$
$ = Rs. 6000$.
The cost price is Rs. 6000.
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